AllUnity Secures EMI License from German Regulator

According to PANews, AllUnity, a joint venture of Deutsche Bank's DWS, Flow Traders, and Galaxy Digital, has received an Electronic Money Institution (EMI) license from the German Federal Financial Supervisory Authority (BaFin) as of July 1. This development follows previous reports that Deutsche Bank's DWS Group, Dutch market maker Flow Traders Ltd., and cryptocurrency fund manager Galaxy Digital Holdings Ltd. were planning to establish a company focused on issuing euro-denominated stablecoins under the name AllUnity. The initiative aims to promote broader mainstream adoption of tokenized assets.